Morning Analysis / MorgenAnalyse / Analyse du Matin / Analisis por la MañanaThe NASDAQ Composite continued in 2007 the long rise since 2003 up to the longterm high end of July, the two major corrections before enforcing the uptrend considerably. The plunge of August indicated a 20 year anniversary of the Oct/1987 crash, but the steep rise after the low in mid August overwhelmed the resistance at the year-high. End of October the index broke out of a strong bottom pattern with a very strong candle to a new year-high, but this strong breakout was ridiculed by two weak candles. Then another attempt with two strong ones failed, starting a slump. December finally turned the shortterm trend up again, a fall out of a shortterm top pattern stopped by three strong candles and steep neutral ones. But the six plunging weak ones over the yearend start another deep correction, continued last week - after past Monday's strong one, three weak ones, with a neutral one in between. A neutral and two strong ones after the break are a little more support, Friday's weak and even negatively engulfing one neutralised by Monday's strong one. Tuesday's is higher, but weak only.
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PSE Hightech 100 Index continued the steep rise of end of 2006, with two major corrections in February and early summer, until the longterm high at 1020 on Oct/18. It tried another breakout end of October, so Oct/19 had little influence on the trend. But this attempt failed end of October, a first plunge throwing the index back below 1000. Even a sudden rise failed again with a plunge out of deep weak candles. After a low end of November, December somehow managed to turn the trend up again. Two neutral candles and a strong one rebuilt support at 920. But the new uptrend was terminated by a breakdown below the 'neckline' at 940 of a weak top pattern. But six plunging weak candles over the yearend destroy any support since the summer, and the plunge over preceding weekend is a breakdown out of a dangerous midterm 'descending triangle'. Any attempt for stability is overwhelmed by seven weak candles, Thursday's neutral one in between enforced by this week's hopeful two strong ones, destroying the falling resistance line over the downtrend of this year. TecDAX Deutschland: continued in 2007 the steep uptrend since summer 2006, interrupted by two major corrections, until the new longterm high of early November. The watershed of Oct/19 even resulted in a breakout to strength, which, however, failed with a plunge of many weak daily candles, occasionally lonely neutral ones or even a strong one in between without any stabilising effect. The weakness ended end of November with a low, when a series of six neutral or strong candles turned the trend up again. This uptrend is terminated by six weak candles over the yearend, starting a slump, overwhelming preceding Monday' strong candle with a series of five weak ones after, Monday's even a plunge. Tuesday's strong one is neutralised by Wednesday's weak one - Thursday's strong one by two weak one over the weekend. But Tuesday's neutral one promises stability.The
I T 20 Index Paris continued in 2007 the steep uptrend of 2006 until July, with a major correction in spring. But the summer terminated this uptrend with a steep decline, ending in turn before the watershed of Oct/19th with a sideways trend. Since the high in late October, with three weak candles a weak three-days-pattern at that high, didn't reach that one of January/February, a huge top pattern was building up. Even a few neutral and strong candles were not enough to prevent three weak ones breaking the 'neckline' of which at 4700. The slump after was terminated end of November, but the short uptrend ran out in December, which moves sideways only. A correction failed to breakout, seven weak candles even attacking the support at 4600. A weak candle was neutralised by two strong ones closing the year. But these two strong ones are swallowed by the first four plunging weak ones of 2008 in a fall out of a dangerous 'descending triangle', the 'neckline' below destroyed. Past Monday's neutral candle positively engulfs the weak one before. Tuesday's weak one leads to a strong one after, but the four weak ones over preceding weekend are a plunge, executing a top pattern. Thursday's strong one is neutralised by Friday's weak one, but this week's two strong ones enforce the support below considerably.
